Despite extensive research on project management over the past several decades, numerous cases of IS project failure continue to surface, undermining organizational performance in almost every industry. The ongoing nature of this issue obliges the IS discipline to consider alternative approaches to avoiding failure before it’s too late. In this paper, a proactive approach to project recovery is presented – one that involves a full-time recovery team responsible for turning around IS projects in distress. Using the findings gleaned from an in-depth case study inquiry, this paper analyzes the composition and structure of a dedicated project recovery team in a global organization. The investigation revealed (1) a process model of IS project recovery that comprises seven stages of evolution, (2) requisite attributes and skills of project recovery specialists, and (3) the differences between project recovery and project management. The implications arising from this novel study for both research and practice are discussed.